Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h +0.003%

Price spread now: Vest against OKX+0.124%7-day average +0.020% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.098%−$10 on $10k

Price spread, last 4 days (all we have)+0.399%+$40 · spread now +0.124%, 7d avg +0.020%

Together, before fees+0.301%+ Points / potential airdropVest: Active · farm board+$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.104% dearer against OKX than usual: you sell high and buy low (spread +0.124% now, against its 7-day average of +0.020%): +$10 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 28 days. At the pace of the last 4 days (−0.098% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HYPE-USDT-SWAP	95.049	0.0037	pay 0.0037% / 8h	7h 13m	$118.6M	$322.9M	50x
Short	Vest HYPE-PERP	95.167	0.0024	get 0.0003% / 1h	13m 46s	—	$126K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee VestbpOrdersPrice spread, now +0.124%Rate

Funding earned: −$2.63
Price spread: +0.124% → +0.020%: $10.38
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$4.25
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; Vest: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy OKX live order book, 5 min ago	0.05 bp	6.8 bp −$7	9.5 bp −$95	15.7 bp −$1,567	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.0832%	1h	94.999	−0.052%	$211K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0543%	1h	95.043	−0.006%	$79K	$149K	20x	as long as short
Phemex HYPEUSDT	−0.0266%	8h	95.057	+0.008%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0254%	1h	95.035	−0.015%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0207%	1h	95.097	+0.051%	$113K	$576K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0135%	1h	95.040	−0.009%	$705K	$1.3M	10x	as long as short
dYdX HYPE-USD	−0.0128%	1h	95.078	+0.031%	$130K	$93K	5x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.114	+0.068%	$90K	$354K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.064	+0.016%	$1.0M	$3.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.099	+0.053%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.067	+0.019%	$18.9M	$35.7M	50x	as long as short
Bybit HYPEUSDT	−0.0011%	8h	95.043	−0.006%	$319.5M	$287.5M	75x	as long as short
Gate HYPE_USDT	−0.0008%	4h	95.043	−0.006%	$52.7M	$56.5M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0005%	4h	95.044	−0.005%	$147K	$670K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.152	+0.108%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.111	+0.065%	$19K	$274K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.098	+0.052%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	95.182	+0.140%	$212K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.090	+0.043%	$4.7M	$5.8M	50x	as long as short
Vest HYPE-PERPshort	+0.0024%	1h	95.167	+0.124%	—	$126K	5x
OKX HYPE-USDT-SWAPlong	+0.0037%	8h	95.049	long leg	$118.6M	$322.9M	50x
Bitget HYPEUSDT	+0.0040%	4h	95.052	+0.003%	$228.4M	$95.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0048%	8h	95.129	+0.084%	$340K	$38K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0057%	1h	95.031	−0.019%	$7.6M	$10.1M	20x	as long as short
SoDEX HYPE-USD	+0.0094%	1h	95.072	+0.024%	$2.1M	$1.9M	10x	as long as short
Lighter HYPE	+0.0096%	1h	95.056	+0.008%	$16.3M	$63.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.062	+0.014%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.088	+0.041%	$150K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	95.126	+0.081%	$5.1M	$31.1M	30x	as long as short
Aster HYPEUSDT	+0.0097%	4h	95.050	+0.001%	$9.0M	$36.7M	300x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.110	+0.064%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.073	+0.026%	$5.9M	$52.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.203	+0.162%	$2.10B	$678.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.128	+0.084%	$10.3M	$14.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.058	+0.009%	$382.7M	$913.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.126	+0.081%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.058	+0.009%	$98.1M	$89.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.051	+0.002%	$47.4M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.043	−0.006%	—	$52.8M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	95.091	+0.044%	$29.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.104	+0.058%	$7.7M	$44.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.124	+0.079%	$348K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.098	+0.052%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.088	+0.041%	$500K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.025	−0.025%	$33K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.248	+0.209%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.016	−0.035%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.050	+0.001%	$402K	$136K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0118%	1h	95.149	+0.105%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.088	+0.042%	$3.1M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.380	+0.348%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.040	−0.009%	$85K	$94K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.118	+0.073%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.062	+0.014%	$17.2M	$12.3M	75x	as long as short